On The Insider: The Insider's 8 of 08

Randgold Resources Q1 2007 Earnings Call Transcript

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2007-05-08 13:34:41.0

Tags: Meter, Call Transcript, Earnings, Massawa, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions) Our first question is from Victor Flores of HSBC. Please go ahead, sir.

Victor Flores - HSBC

Thanks. Good afternoon, Mark. I was hoping you could give us a sense of what changes to the mine plan, if any, you'll have to make to incorporate the possibility that Gara extends at least 400 meters from where you thought it ended previously.

Mark Bristow

Victor, it does a couple of things. The first thing is, it upgrades the grade. The 400 meters is probably the limit on the decline and so, that's one thing. But really, it's just pushing the declines down a little further, maybe looking at being a little bit more selective. Because we've now got much more tonnage and we've got these high-grade deposits. I think the thing that is going to drive us to do is looks above that now back to surface and that whole structure starts opening up again.

Victor Flores - HSBC

Okay, great. Just to follow up on your comments on the African Eagle project, where exactly is it located?

Mark Bristow

In the southern part of the Victoria Gold region; is in the diagram. So, if you look at -- it's about -- it's southwest of Bole and Houlu. Just outside of sort of nearly west of Golden Pride. It's in the southwestern edge of the Lake Victoria Gold Field.

Victor Flores - HSBC

Okay, great. And then, just to follow up on some of the work or results that you are gaining out of Senegal, are these new areas that you hadn't touched before? I'm just trying to find the comment in the press release here.

Mark Bristow

They are new. Massawa is brand-new, and Delya was a target that we generated at the end of last year. And the structure has only plans current share zone. It's on the greenstone belt real logical contact on the contact between two significant rock tops. And that structure will not follow further south from the Delya one and we're hitting more in mineralization. So, those two projects are new.

Victor Flores - HSBC

Okay, great. Thanks very much, Mark.

Mark Bristow

Okay.

Operator

Our next question is from Patrick Chidley of BJM. Please go ahead.

Patrick Chidley - BJM

Hi, Mark. I was wondering if you could tell us a little bit more actually on the Senegal exploration, just in terms of what kind of timetable you would have to follow up on those drill results -- those great drill results you've got.

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